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Trading Commodities, Commodity Options and Currencies (Collection) by Carley Garner, Paul Brittain

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3. FX Brokers and the Reality of Transaction Costs

Your trading experience will be directly tied to the type of brokerage firm you use. There is much more to making money in FOREX than being able to forecast price changes, although that is a great start. Choosing the type of FX brokerage, and the particular shop itself, could be the difference between a happy conclusion to your trading journey and the opposite scenario. Not only are there various arrangements for counterparty execution, but there are alternative methods of charging and collecting transaction costs.

Two types of retail FX brokers offer speculative currency trading to investors: traditional brokers that provide clients access to an ECN and brokers that operate as dealing desks. ...

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